NVIDIA’s (NVDA) “Buy” Rating Reiterated at Rosenblatt Securities

Rosenblatt Securities reiterated their buy rating on shares of NVIDIA (NASDAQ:NVDA) in a research note released on Wednesday,Benzinga reports. Rosenblatt Securities currently has a $220.00 target price on the computer hardware maker’s stock.

A number of other equities research analysts have also commented on NVDA. Raymond James increased their price objective on shares of NVIDIA from $140.00 to $170.00 and gave the stock a “strong-buy” rating in a report on Thursday, November 14th. TD Cowen increased their price target on shares of NVIDIA from $165.00 to $175.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Cantor Fitzgerald restated an “overweight” rating and issued a $175.00 price objective on shares of NVIDIA in a research report on Thursday, November 21st. Benchmark reiterated a “buy” rating and issued a $190.00 price objective on shares of NVIDIA in a research report on Tuesday. Finally, The Goldman Sachs Group boosted their target price on NVIDIA from $150.00 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Four research analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $164.63.

NVIDIA Stock Performance

NASDAQ NVDA opened at $135.91 on Wednesday. NVIDIA has a 1-year low of $53.56 and a 1-year high of $153.13. The company has a 50 day moving average of $139.90 and a 200-day moving average of $128.66. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. The firm has a market cap of $3.33 trillion, a price-to-earnings ratio of 53.49, a PEG ratio of 2.43 and a beta of 1.64.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.12. The firm had revenue of $35.08 billion during the quarter, compared to analysts’ expectations of $33.15 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The business’s revenue was up 93.6% on a year-over-year basis. During the same period last year, the firm posted $0.38 EPS. On average, equities analysts forecast that NVIDIA will post 2.78 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Thursday, December 5th were issued a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. The ex-dividend date was Thursday, December 5th. NVIDIA’s payout ratio is 1.57%.

Insider Activity at NVIDIA

In other news, Director Tench Coxe sold 1,000,000 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $131.26, for a total value of $131,260,000.00. Following the completion of the sale, the director now directly owns 28,671,360 shares of the company’s stock, valued at $3,763,402,713.60. This trade represents a 3.37 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Ajay K. Puri sold 36,462 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $151.10, for a total value of $5,509,408.20. Following the transaction, the executive vice president now directly owns 3,902,888 shares in the company, valued at $589,726,376.80. The trade was a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,108,348 shares of company stock valued at $146,506,958. 4.23% of the stock is owned by insiders.

Hedge Funds Weigh In On NVIDIA

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Christopher J. Hasenberg Inc bought a new position in NVIDIA in the 3rd quarter valued at about $27,000. Quest Partners LLC acquired a new position in shares of NVIDIA in the second quarter valued at approximately $27,000. University of Texas Texas AM Investment Management Co. bought a new position in shares of NVIDIA during the second quarter worth approximately $31,000. Legend Financial Advisors Inc. acquired a new stake in NVIDIA during the 4th quarter worth approximately $34,000. Finally, West Financial Advisors LLC acquired a new stake in NVIDIA in the 3rd quarter worth about $36,000. 65.27% of the stock is owned by institutional investors.

About NVIDIA

NVIDIA Corporation provides graphics and compute and networking solutions in the United States, Taiwan, China, Hong Kong, and internationally. The Graphics segment offers GeForce GPUs for gaming and PCs, the GeForce NOW game streaming service and related infrastructure, and solutions for gaming platforms; Quadro/NVIDIA RTX GPUs for enterprise workstation graphics; virtual GPU or vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for building and operating metaverse and 3D internet applications.